A LAST WORD: BUILDING THE PERFECT RESIDUAL AUDIENCE
I stumbled upon Bloomberg Pursuits today. As you see above, the averagehousehold income of the magazine’s reader is $575,000. Bloomberg has expanded print publishing from quarterly to bi-monthly in the past year and has begun using their @Luxury Twitter handle for frequent digital features.
As a gear publication or a lifestyle feature, it’s just average. Even Gear Patrol is better. Where copycat sites like GP are lacking is in the authenticity of their readership. They buy traffic to pump viewership numbers but those numbers don’t click on ads or add-to-cart, as much as the perfect residual audience.
Frankly, wealthy women and men don’t scour Facebook or Twitter all day. As such, traditional traffic driving (from those platforms) doesn’t result in the types of traffic that you’d want for eCommerce actions. Bloomberg is building the residual audience (the holy grail of product-marketing media) the organic way by pitching Pursuits to professionals who subscribe to Bloomberg Terminals. An audience with discretionary income and predictable tastes is the result.
How much does Bloomberg Pursuits know about their reader? The site currently uses 83 platforms and tracking technologies. One thing they’ve yet to institute? Affiliate marketing or traditional eCommerce. As the Bloomberg Pursuits audience continues to grow, it will become a benchmark for other products and services using media to further engage their premium audiences.
See more of the issue here.